301 Wallace Ave S
Welland, L3B 1R8
FOR SALE
$624,900
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BEDROOMS3
BATHROOMS1
KITCHENS7
ROOMSX8312958
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Property Description
3-Unit property recently renovated and fully leased. The property is grossing $4200 a month. You won't find a property in the area that is grossing this much per month in rental income for the price. All units are separately metered so tenants pay their own hydro. All appliances are electric so the usage is billed to the Tenants hydro bill which they pay for. Leases still have a healthy term left. Great tenants, haven't missed rent and pay on time.
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2023-07-27 | 2023-09-05 | 40 | $739,900 | - | Terminated |
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Property Details
Street
City
Property Type
Triplex, 2-Storey
Approximate Sq.Ft.
1100-1500
Lot Size
45' x 100'
Acreage
< .50
Fronting
West
Taxes
$2,880 (2023)
Basement
Finished, Full
Exterior
Alum Siding
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
3
Driveway
Private
Garage Type
None
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Welland Market Statistics
Welland Price Trend
301 Wallace Ave S is a 3-bedroom 3-bathroom home listed for sale at $624,900, which is $28,951 (4.4%) lower than the average sold price of $653,851 in the last 30 days (April 14 - May 13). During the last 30 days the average sold price for a 3 bedroom home in Welland increased by $10,223 (1.6%) compared to the previous 30 day period (March 15 - April 13) and up $68,028 (11.6%) from the same time one year ago.Inventory Change
There were 49 3-bedroom homes listed in Welland over the last 30 days (April 14 - May 13), which is up 96.0% compared with the previous 30 day period (March 15 - April 13) and up 58.1% compared with the same period last year.Sold Price Above/Below Asking ($)
3-bedroom homes in Welland typically sold ($18,266) (2.8%) below asking price over the last 30 days (April 14 - May 13), which represents a $8,839 decrease compared to the previous 30 day period (March 15 - April 13) and ($20,258) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 3-bedroom homes in Welland over the last 30 days (April 14 - May 13) stood at 30.6%, down from 140.0% over the previous 30 days (March 15 - April 13) and down from 54.8% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 3-bedroom 3-bathroom home in Welland stood at 35 days when successfully sold over the last 30 days (April 14 - May 13), compared to 67 days before being removed from the market upon being suspended or terminated.Listing contracted with Re/Max Escarpment Realty Inc.,
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